Molto Properties and Verus Partners (www.verpar.com) announce the sale of Airport Commerce Center One, a 622,426 square foot cross-dock facility located in Louisville, Kentucky, to Stone Mountain Industrial Park, Inc., an affiliate of Pattillo Industrial Real Estate. The property was marketed for sale by Chris Riley with the National Investment Partners at CBRE.
Purchased in 2014, the 83 acre site was Molto Properties’ first development in the Louisville market. The site is located in the Louisville Renaissance Zone, a 470 acre business park, located just two miles south of Louisville International Airport. Verus Partners was the project’s development manager.
The state-of-the-art cross-dock facility was completed in December, 2015, and was 74% leased to Hillsdale Furniture prior to completion. Hillsdale Furniture is a designer, importer and marketer of bedroom, dining room, occasional and accent furniture. The facility features a 36′ clear height, 7” unreinforced floor slab, motion sensor activated T5 lighting, 86 dock doors (expandable) and 120 trailer stalls (expandable).
“We are excited by the success of our first project in Louisville, and first project with Verus Partners. We would like to thank Kevin Grove, Doug Butcher and Chris Riley of CBRE for their important contribution to the Project’s successful leasing and sale.” says Todd Naccarato, Managing Principal of Molto Properties.
Molto and Verus broke ground on Airport Commerce Center Two, a 645,840 square foot facility in November 2015. Pepper Construction was selected as general contractor. Completion of the building is anticipated in November 2016.
For more information, please visit the property website at http://www.airportcommercecenter.net/